Chapter 460 [Stars Capital has run away again? Run everyone! 】
Chapter 460 [Stars Capital ran away again? Everyone, run! 】
What Fang Hong wants more than anything else is to have the heads of those investors who use North American capital market benchmarks to smash their heads when evaluating listed companies in the Galaxy Group.
You think that the P/E ratio of 50 times for this listed company is already very high, and the bubble is already very big. The valuation of the benchmark US stock market should be 20 times P/E ratio, so you think it will fall sharply soon, so you should withdraw quickly.
So you cash out, wait patiently for it to kill the valuation, wait until the mean reverts, and then buy in again.
This means that one year has passed, you are not panicking, you are very patient, so the second year has passed, the valuation is still high at 50 times the price-earnings ratio, you are still calm, choose to continue to wait, and then the third year has passed.
At this time, you are very surprised, why haven't you killed me yet?
Three years and three years later, you finally begin to doubt your life. When you look at the latest price of this investment department, you will find that the position of your original selling point has doubled from the starting point. The original selling point has extended the cycle.
, just like a buying point.
After waiting for so many years, not only has the valuation failed to come down, but the growth in value over the past few years has filled the bubble, and the price-to-earnings ratio is still over 50 times, even reaching 60 times.
The facts are in front of you, and you have to admit that the previous strategy of evaluating the US stock market as a reference was a serious misjudgment, and you lost the big bull stocks and sold them badly.
So, who can have trouble with money?
When the time cycle is lengthened and the money-making effect is there, investors will naturally no longer anchor the North American capital market for benchmarking evaluations, at least the core assets of Galaxy will definitely not do this.
The stars have escaped again!
The market began to spread rumors that Qunxing Capital had run away at 3100 points in mid-November last year.
In the next few days, the trend of the A-share market entered a consolidation stage. The market index reached the 2900-point mark and then could not move forward, mainly because it reached the pressure level of the rebound high point in December last year.
Everyone has seen the market strategy ability of Qunxing Capital. When the market reached more than 1,600 points at the end of November 2008, Qunxing Capital resolutely bought the bottom, and then perfectly retreated at more than 3,300 points. There were even rumors that it would reach 3,470 points.
Accurate escape from the top.
But whether it is retreating at 3300 points or 3470 points, there is no doubt that Star Capital will make a lot of money.
Fang Hong wants to start on the aspect of valuation. Valuation is essentially a bet on whether you believe it or not. If you give a price-to-earnings ratio of 50 times, you can beat it if you believe it. And Fang Hong wants investors to have to believe it.
This stock is extremely good, and when it rebounds, it is much stronger than the market. Weibo, which fell more than 8 percentage points, has gone out of the four consecutive positives and has been suppressed by high pressure before breaking through. It rose by +0.42 in the next four trading days.
%, +1.56%, 1.51% and +7.07%, the closing price was locked at 198.86 yuan, and the daily transaction scale once again exceeded the 10 billion mark.
The scale of Weibo's massive trading volume is reaching tens of billions again. The total trading volume of the Shenzhen Stock Exchange's main board that day was 118 billion, and Weibo, a listed company, accounted for 8.13%.
It is obviously impossible not to panic as an institution like Star Capital, which has a solid record and has been labeled as a "smart money" by investors, has withdrawn.
At this moment, Qunxing Capital’s positions in the fourth quarter are nowhere to be seen, which obviously shows that this large institution is not optimistic about the market outlook, and it has already ran away last year, and it is very likely that it even ran away near the 3186 point, and it has once again accurately escaped.
top.
Investors in other sectors also complained that Weibo’s volume was excessive. This siphon effect was like a gold-eating beast. A trading volume of 9.5 billion could cause more than one industry sector to set off a daily limit trend, but on Weibo it only pulled 6
A little more.
The whale fell, but everything was still dead because it was crushed to death by the whale.
However, after the market plummeted due to the departure of Qunxing Capital, it did not fall further, but ushered in continuous positive rebounds.
For a listed company, there are only two ways for investors to make money: one is to earn the value part, that is, dividends and the like; the other is to earn the valuation part, which is the bubble and so on. The former represents the real performance of the company itself.
Profit, which represents the company's future expectations and is reflected in rising stock prices.
…
Most of today's stock investors like to see if there is any insider information or gossip.
Weibo also encountered considerable resistance in its bid to reach the price of 200 yuan. On Friday, February 18, Weibo's share price fell by -4.53%, closing at 183.67 yuan, with a full-day trading volume of 5.782 billion yuan.
The main losers are heavyweight stocks, because Qunxing Capital mainly holds heavyweight stocks. With such a large amount of funds, it can only invest in large-cap stocks, and only large-cap stocks have good liquidity and are easy to withdraw.
Investors discovered that the stocks held by Qunxing Capital in the second quarter of last year... disappeared in the fourth quarter!
On the fifth day, Weibo once again closed in positive territory and broke out of its fifth consecutive positive period. On that day, the volume shrank by +1.65%, and the stock price reached the price level of 200 yuan, closing at 202.15 yuan.
After the close of the day, almost instantly, there were a lot of bearish voices in the market.
Then it successfully reached the bottom of more than 2,300 points at the turn of the half-year period last year. Then there was a strong rebound in the second half of the year, and the market went straight up to 3,186 points.
The investors who shouted that Weibo must die yesterday at least got their wish today, because today Weibo plummeted -8.21%, the stock price fell back to 179.42 yuan, and the volume was reduced, reaching a daily turnover of 8.695 billion.
Today's market plunge is related to Qunxing Capital. It is now the pre-disclosure stage of annual reports, and many A-share listed companies have begun to release their latest quarterly institutional holdings.
Many retail investors who did not participate in Weibo shouted "Weibo must die, everything will survive". Then on the next day, Tuesday, February 22, the three major indexes of the A-share market fell sharply, and the Shanghai Stock Exchange Index fell sharply that day.
-2.62%, falling below the 2900 point mark and closing at 2855.52 points.
After the weekend weekend, on Monday, February 21st, Weibo opened low and moved high, rising +6.43% that day. The stock price rose to 195.48 yuan, the total market value reached the 100 billion mark, and the trading volume throughout the day
9.593 billion yuan was released.
In terms of individual stocks, the funds involved in Weibo have gone round and round, and I feel that Weibo is still very reliable.
Those who believe can get rich, while those who don’t believe can only watch others get rich. If you don’t believe it, then you just have trouble with money.
This news suddenly spread widely today. Big A was immediately frightened to death. The belated investors were frightened by the news and fled in panic. Coupled with other negative news, the panic that day caused the market index to drag down.
Can't live.
When investors looked back at the trend of Weibo, they saw that after the market changed upward, the cumulative increase had reached +47.03%. If the price was calculated from the 106.07 yuan that was originally killed, the cumulative increase had reached 92.09%, nearly doubling.
Already.
Although the recent rise is not as crazy as the one after the National Day in October last year, the upward trend can only be counted among heavyweight stocks.
As a large-cap stock worth hundreds of billions, it has risen by more than 47 percentage points in just 20 trading days, which is already quite strong.
